Capital Pub Company buys two London pubs amidst ‘robust' trading
The Capital Pub Company has bought two more pubs in London, as it said it had seen ‘robust' trading since November last year.
The firm said it had taken a 40% stake in Ensco 600, the company which owns the Havelock Tavern, a freehold pub in Brook Green, W14, for £280,000. It plans to buy the remaining 60% from January 2011 onwards.
Meanwhile it confirmed that it had completed the purchase of a 20-year lease on The Uplands in East Dulwich, with a five-year option to buy the freehold for £1.95m. The pub is due to close for a £250,000 refurbishment, re-opening after Easter.
And the company said it remained "comfortable" with market expectations for the year ending 30 March 2010.
Clive Watson, chief executive of Capital Pub Company, said: "I am pleased to report that the company is trading well and has improved its performance over last year. The company saw clear benefits from its fully invested estate and the London market remains buoyant.
"We are committed to growing our portfolio of quality, predominantly freehold London pubs and both The Uplands and The Havelock are excellent additions to our estate. Whilst we remain cautious regarding the general economic situation we are encouraged by current trading and look forward to the 2010 World Cup."
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By Neil Gerrard
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